5 Ways Artificial Intelligence Will Shape Modern Businesses

It seems that innovation and a constant strive to surpass the technological advances of yore is weaved into the very essence of our DNA. It seems, that humankind is on a never-ending mission to achieve greatness. One such endeavour is the decades-long development and implementation of artificial intelligence, its systematic weaving into the very fabric of our existence.

From the benefits AI will bring to the medical industry, to its impact on the progress of space exploration, all the way down to shaping our personal living environment and our own little cosmos – it seems that AI is our inevitable future. And what a future it will be! Above all, AI will have a profound impact on the business industry, shaking its very foundation and shaping key processes in every organisation. Let’s take a peek at what’s in store.

Implementing AI chatbots

The global consumer market is on a never-ending rise, and businesses are struggling to keep up with modern trends (more on that in a moment) and ensure top customer satisfaction on all fronts. However, top customer satisfaction is not something that’s easily achieved when businesses are faced with a gargantuan market, having to meet the demands and expectations of every single one of their customers.

For high-volume companies (and boutique brands, for that matter) such as airlines, e-commerce brands, and many others, being able to deliver amazing customer experience at all times is not an option – it’s a necessity. This is where virtual assistance comes in as the deus ex machina every customer and business leader was praying for. By opening numerous automated channels of communication with your clientele, you can easily effectuate constant support, provide relevant information, and uphold brand integrity.

Generating deep market insights

In the ever-fluctuating global (and local) marketplace, there is an imperative to maintain a constant rate of innovation, keep the customer engaged, reach new audiences, and preserve top status in the industry. The said cannot be achieved without staying on top of the latest trends and developments in the hearts, minds, and habits of your target demographic.

There is a need to simplify, automate, and expedite the deep market research process. Artificial intelligence is, therefore, the solution every business needs to introduce in order to automate and expedite data processing, efficiently finding key market insights that will give them an edge in the competitive arena.

Automating and optimizing the transcription process

Transcription – the tedious yet crucial manual task every business needs to conduct on a regular basis in order to create stories and reports from voice content to diversify their inbound strategy, disseminate it across numerous platforms, and open up new channels of internal and external communication. Needless to say, transcription is one of the crucial processes nobody wants to fall on their shoulders.

The good thing is that in the modern world, it doesn’t have to. By implementing transcription services online and outsourcing the entire process to smart software backed by professional human oversight, businesses can efficiently and effectively bring stellar content into the written form. This means that companies can also eliminate human errors and simplify an otherwise time-consuming task, in turn generating a higher ROI on all fronts.

Automating various system processes

Speaking of automating menial and crucial tasks across the board, we are currently only scratching the surface of what the AI of tomorrow will be able to achieve. Nowadays, artificial intelligence is bringing automation to various processes, from advanced robots “employed” in manufacturing facilities, to smart hotel bookings, all the way to a number of routine tasks every company has to face on a daily basis.

The world is moving towards an automated future, creating an opportune environment for companies to reduce resource expenditure in terms of time and finances, gather meaningful market insights that will propel the brand forward, and open up truly creative job positions for the modern worker. This not only ensures greater customer satisfaction but employee happiness as well.

Ensuring stellar security in the online world

The last pain point we need to address, one that every company struggles with in the wake of the digital revolution, is the need to improve online security and prevent data breaches and incursions rather than having to resort to costly damage control. That said, it seems that AI is already finding its way in the IT sectors and firewalls of moderns businesses, with a survey from 2017 concluding 44% of 835 companies are using artificial intelligence to predict, detect, and prevent security breaches.

What’s more, online security is not the only benefit AI brings to the IT sector, as companies can use its learning prowess to resolve technology problems on a grand scale within minutes and expedite the innovation process within a creative IT team. This way, team members can focus on core tasks that will define the future of their brand.

Artificial intelligence seems to be, without a shadow of a doubt, the way of the future. In order to stay relevant in the ever-expanding and ever-changing marketplace, businesses should strive to improve and optimise every process by weaving AI solutions into their very foundation, all the way to their bottom line processes.

Guest Author: David Webb is a Sydney-based business consultant,online marketing analyst and a writer. With six years of experience and a degree in business management, he continuously informs the public about the latest trends in the industry. He is a senior editor at BizzmarkBlog. You can reach him on Twitter or Facebook.